|Basis of Allotment|
This Is only an advertisement for Information purposes and not a prospectus announcement.
SUDAR GARMENTS LTD.
(Our Company was originally Incorporated as 'Sudar Garments Private Limited' on January 28,2002 under the Companies Act, 1956 with the Registrar of Companies, Mumbai, Maharashtra ('ROC'). The name of the Company was changed to Sudar Garments Limited on conversion into Public Limited Company and a fresh Certificate of Incorporation was obtained from ROC on March 18,2010. For further details of changes in the name and registered office of our Company, please refer the section titled 'History and Certain Corporate Matters' beginning on page 100 of this Prospectus.)
Registered Office: 117, First Floor, Vardhaman Market, Sector
-17, Vashi, Navl Mumbai - 400 703, Maharashtra, India. Tel No.: +91 22
27800706/27880994; Fax No.: +91 22 27889239; Website: www.sudargarments.com;
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 90,88,000 EQUITY SHARES OF RS. 10/- EACH OF SUDAR GARMENTS LIMITED (THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS. 77/- PER EQUITY SHARE, INCLUDING A SHARE PREMIUM OF RS. 67 PER EQUITY SHARE, AGGREGATING TO RS. 6997.76 LACS (THE 'ISSUE'). THE ISSUE WOULD CONSTITUTE 49.00% OF THE FULLY DILUTED POST-ISSUE PAID UP CAPITAL OF THE COMPANY.
THE ISSUE PRICE IS RS. 77/- PER EQUITY SHARES. THE FACE VALUE OF THE EQUITY SHARES IS
RS. 10 EACH.
This Issue Is being made through the 100% Book Building process wherein upto 50% of the Issue shall be allocated on a proportionate basis to Qualified Institutional Buyer ('QIB') Bidders, out of which 5% shall be available for allocation on a proportionate basis to Mutual Funds only and the remaining QIB portion shall be available for allocation on proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received from them at or above the Issue Price. Further, not less than 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received from them at or above the Issue Price.
The Issue opened for subscription on February 21,2011 and closed on February 24,2011. The issue received 4,234 applications for 11,842,443 equity shares resulting in 1.3031 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Individual Investors categories are as under: (Before technical rejections)
The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ("BSE") on March 04,2011.
A. Allocation to Retail Individual Investors (After Technical Rejections)
B. Allocation to Non Institutional Investors (After Technical
C. Allocation to QIBs
Allocation to QIBs has been done in consultation with BSE. Mutual Funds were to be initially allocated 5% of the quantum of equity shares i.e. 2,27,200 Equity Shares. However there were no applications from Mutual Funds. The category was subscribed to the extent of 0.17 times and the total number of successful applicants are 2.The undersubscrlbed portion of this category is spllloverto retail category (2,636,593 Equity Shares) and Non-Institutional category (1,129,969 Equity Shares) in the ratio of 35:15 respectively. All the Investors in this category received firm and full allotment.
The Board at its meeting held on March 05,2011 has approved the basis of allocation of Equity shares of the Issue and has alloted the shares to various successful applicants.
The CAN-cum-Refund Orders and allotment advice and/ or notices have been dispatched to the address of the investors as registered with the depositories on March 07,2011 and the instructions to Self Certified Syndicate Bank ("SCSBs") have been dispatched on March 07,2011. In case the same Is not received within ten days, Investors may contact at the address given below. The Refund Orders have been over-printed with the Bank Account details as registered, if any, with the depositories. The shares allocated to successful applicants are credited to their beneficiary accounts subject to validation of the account details with the depositories concerned.
The Company Is taking steps to get the equity shares admitted to trading on BSE and NSE on or before March 11,2011.
INVESTORS PLEASE NOTE
All future correspondence in this regard may kindly be addressed to the Registrars to the offer quoting full name of the First/ Sole applicant, Serial number of the bid-cum-application form, number of shares bid for, name of the Member of the Syndicate and Place where the bid was submitted and payment details at the address given below:
Link Intime India Private Limited
C -13, Pannalal Silk Mills Compound, LBS Marg, Bhandup - West, Mumbai - 400
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF
EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF SUDAR